Closure of the G20 Leaders Summit

Xinhua News Agency, Bali, Indonesia, November 16 (Reporters Yu Qianliang, Hao Yalin, Wang Ona) The 17th Summit of G20 Leaders concluded in Bali, Indonesia on the 16th, which adopted the Bali Summit Declaration of G20 Leaders.

The declaration emphasizes that as a large global economy, G20 members recognize the need to lay the foundation for strong, sustainable, balanced and inclusive growth through collective responsibility and cooperative initiatives to promote world economic recovery and meet global challenges.

The declaration pointed out that the current multiple global crises are superimposed, the world economy has experienced the damage caused by the COVID-19 epidemic, and other challenges such as climate change have led to economic downturn, increased poverty, slowing global recovery and hindered the achievement of sustainable development goals.

The declaration said that at this critical juncture in the global economy, it is essential for the G20 to take practical, accurate, rapid and necessary actions. All available policy tools should be used to address common challenges, including through international macro-policy cooperation and pragmatic collaboration. To this end, the G20 will remain committed to supporting developing countries, especially the least developed countries and small island developing States, to help them meet global challenges and achieve sustainable development goals. Based on the theme of "joint recovery, strong recovery" proposed by the Indonesian presidency, countries will take concerted action to promote a strong, inclusive and resilient global recovery and a sustainable development agenda for job creation and growth.

Indonesian President Joko said at the closing press conference that the summit discussed the current serious challenges facing the international economy, and all parties agreed to take practical actions to deal with them. He reiterated that the G20 should focus on economic and development issues and should not be politicized.

At the closing meeting of the summit, India officially took over as the new rotating presidency of the G20. Indian Prime Minister Modi said that in the coming year, India will assume the rotating presidency in an inclusive, bold and enterprising manner to ensure that members accelerate the implementation of the collective consensus.

The next summit of G20 leaders will be held in New Delhi, the capital of India, in September 2023.